The forint was at 382.8 against the euro on Tuesday morning, a 0.2% weakening in terms of the Hungarian currency compared to last night. At the same time, the quotation was still above 390 for a short time a week, which means that the mood has improved significantly since then, which is largely due to favorable international developments, and the weakening of the dollar has helped emerging market currencies, including the forint. The question is how long this trend can last, investors have begun to price the upcoming ECB rate hike, but that may change. We are now hovering around the dollar at 358.35, while the British pound will cost 450.4 forints.
Among the forint’s direct competitors, the Polish zloty and the Czech koruna also started Tuesday with a minimal shift and virtually stagnation. In emerging markets, the Turkish lira weakened 0.4%, while the Russian ruble strengthened 0.2% against the dollar.
We mentioned that the euro-dollar exchange rate also seems to be reversing, with the dollar falling 0.2% to 1.0673 on Tuesday morning after the dollar weakened in recent days. The Japanese yen also started to appreciate 0.2% against the dollar, while the British pound weakened minimally.
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